parasiteonsol.fun: does Parasite's host-token burn work?

Does Parasite's host-token burn work? As of 2 October 2026: yes, when it runs. Parasite's program burns exactly the share of each fee its docs promise, and the host coin's supply drops by that amount on any explorer. But the burn only happens when someone sends a "feed", and Parasite's own keeper hasn't sent one since 2:36 AM ET on 1 October. Fees from more than 400 trades since then are waiting, unburned. In total, parasites have burned about $2,000 of host coins at today's prices.

How it works. Parasite launches "parasite" coins that are priced in another coin, the host, instead of SOL: you buy $PCAT with $PARASITE, not with SOL. Every trade on a parasite's Meteora curve pays a 1% fee in the host coin. Meteora keeps a fifth of it. Parasite's program claims the rest and splits it: half is burned from the host's supply, 30% goes to the parasite's creator and 20% to Parasite's treasury. Between 20:00 and 05:00 UTC (4 PM to 1 AM ET), "Night Mode" burns the treasury's share too.

We decoded all 152 of the program's accounts and checked its fee feeds in indexed on-chain data. The splits hold. On 29 and 30 September, 161 daytime feeds burned exactly 50% and paid the treasury 20%, and 229 Night Mode feeds burned 70% and paid the treasury nothing. An update at 1:11 PM ET on 30 September added rewards for holders, and after it the busiest coins' feeds burned 40% and sent 30% to the treasury, 20 points of which are owed to holders, as documented. For every host, the supply on-chain is lower than the original billion by at least the burned total the program records.

The burns are small. 111 parasites have launched, 100 of them in the first 24 hours (28 to 29 September). None has graduated to the open market, and none has become a host itself. Of 37 registered hosts, 17 have had anything burned. $PARASITE, the platform's own coin, hosts 64 parasites and has lost 1.57M tokens to them, 0.16% of its supply and about $1,700 today. $SNOWBALL hosts 15 and has lost 4.8M, 0.48%, about $220. All the other hosts together come to about $70.

The keeper stopped. One wallet, 8Am1…2ndSu, sent 2,583 of the 2,591 feeds that have burned anything. Its last was at 2:36 AM ET on 1 October. It still holds 0.58 SOL, so it didn't run out of gas. Since then one feed has run, at 6:02 PM ET, sent by a wallet that had just launched a parasite. Trading carried on: more than 400 trades on parasite curves, 253 of them on $PCAT. Those fees aren't lost. They wait in Meteora until someone feeds them, and Parasite's docs say anyone can, from the site. The treasury's buy-and-burn of $PARASITE stopped at the same time, at 2:38 AM ET.

Holder payouts ran once. Since 30 September, a parasite past its first stage owes up to 20% of every fee to its top 20 holders, which the treasury is supposed to pay "every 6 hours". We found one payout round, at 7:52 PM ET on 30 September: 22 transfers tagged "parasite:hold" to holders of parasites on $PARASITE and $SNOWBALL. We found none since, as of 10 AM ET on 2 October.

At 10:30 PM ET on 1 October, Parasite's account posted that "every trade still burns its host, and holders keep getting their cut", and that "the site and the keepers run around the clock". The first part is half right: fees from every trade are owed to the burn and to holders, and they'll be paid out when someone feeds them. But nothing had burned through the keeper for 20 hours, and holders had last been paid 27 hours earlier. The second part doesn't match the chain: the keeper had been idle since 2:36 AM ET. We've asked Parasite on X what happened to the keeper, and we'll add its answer here.

About the "$PARASITE burned" number. The total on Parasite's home page, 41.4M, is how far the coin's supply has dropped below 1 billion, from any cause. 38.6M of it, 93%, burned between 9:17 and 9:23 PM ET on 28 September, right as $PARASITE moved to PumpSwap: pump.fun's own "BoostBuyAndBurn" instruction spent 17.6 SOL buying $PARASITE and burning it. Parasite's feeds account for 1.57M and its treasury's buy-and-burn for about 1M. The page does list the treasury's part separately.

Who controls it. One key, 3Ypi…gndk, is both Parasite's admin and the program's upgrade authority. The docs list what the admin can't do, such as touching existing parasites' fees or their locked liquidity, and the current code bears that out. The same key can replace the code, though, and did several times on 29 and 30 September; the docs say so too: the program "only changes with an upgrade you can see on chain". When the key was set up, 0.49 SOL of its funding came from C3tT…bXdH, the wallet that launched SNOW, the first parasite, 48 minutes later. So the first parasite came from someone connected to Parasite's team. We found nothing showing that was hidden, and SNOW's launcher hasn't sold: it still holds all 643,155 SNOW from its launch buy.

If you hold a host coin: the burn is real, but small, and it waits on someone to feed it. You can check any host's burned total against its supply on Parasite's Stats page or an explorer. If you're buying a parasite, you need its host coin first, and selling one gets you the host coin back, not SOL.